Pa. House passes legislation to revitalize commercial properties, create jobs
Legislation that would establish the Mixed-Use Revitalization Program to incentivize the revitalization of commercial properties has been passed by the Pa. House.
House Bill 2174 will now be considered by the state Senate. The bill is sponsored by state Rep. Justin Fleming, D-Dauphin. Fleming cited former shopping malls as an example of the rise of large commercial properties that fall into disrepair after they’re abandoned.
“Communities across the commonwealth are seeing a rise in large, abandoned and blighted commercial properties like the Colonial Park Mall in Lower Paxton,” Fleming said in a statement. “As they stand vacant and fall into disrepair, these looming eyesores are negatively impacting communities by cutting into tax rolls, failing to pay utility bills, deterring traffic to nearby businesses, draining local services, and often posing significant safety concerns.
“I believe we can transform these drains on our economy into thriving places to live and work, bringing new restaurants, retail shops, health care facilities, recreational spaces, and residential housing for working families,” Fleming added.
As large properties often accrue demolition and site preparation costs that are substantial, H.B. 2174 would help provide capital funding to developers to purchase large properties and expedite the redevelopment process.
“My bill would establish a dedicated Mixed-Use Revitalization Fund administered through the Commonwealth Financing Authority that would provide matching grants to incentivize the purchase and revitalization of these large commercial properties,” said Fleming. “This would lead to a ripple effect of further investment, development and job creation in Pennsylvania.”